RDC Announces 2022 Tribal Economic Diversity Fund

Submitted by Carol A. Clark
on July 15, 2022
- 6:29 pm

RDC News:

For the past 25 years the Regional Development Corporation (RDC), a non-profit economic development organization, has assisted business development in Northern New Mexico.

This year is no different with the opening of the Tribal Economic Diversity Fund.

RDC’s Tribal Economic Diversity Fund awards grants of up to $8,000 to businesses owned by a federally recognized Indian tribe or by an enrolled member(s) of a federally recognized Indian tribe for critical technical services and equipment.

Awards are made on a competitive basis and are intended to provide services to tribal business entities that diversify revenue, leverage other investments, create new jobs and/or put systems in place that lead to growth.

“The past two years have been exceedingly difficult for many northern New Mexico tribal businesses,” RDC Executive Director said. “We know that funding can make a big difference, especially if it’s going towards making purchases that are needed to stabilize, diversify, or grow a business.”

ELIGIBILITY:

Business enterprise owned by a federally recognized Indian tribe; or business owned at least 51 percent by an enrolled member(s) of a federally recognized Indian tribe from the Pueblos of Cochiti, Jemez, Nambe, Ohkay, Picuris, Pojoaque, San Ildefonso, Santa Clara, Taos or Tesuque;
Business headquartered in Los Alamos, Mora, Rio Arriba, San Miguel, Sandoval, Santa Fe or Taos County;
Business-only bank account encouraged;
Been in business for at least 6 months before applying;
Preference given to first-time applicants and previously unawarded applicants; and
Funds to be used to: procure needed business equipment, advertising and marketing, consulting services, specialized software.

REQUIREMENTS:

Outline specific purchases that can be completed within 6 months from award date;
Submit a Tribal Economic Diversity Fund application by Aug. 15; and
Unless other arrangements have been made upfront and approved, pay for funded purchases and submit paid invoices for reimbursement.

IMPORTANT DATES: